The clock is ticking, with the 10-day creditor protection window narrowing by the day.
Gordon Brothers has defended its handling of the situation. Mark Newton-Jones, who leads the firm’s European operations, wrote to the Business Department stating that the company had “supported Poundland with £85million of additional financing” since buying the business in the summer of 2025.
Mr Newton-Jones acknowledged that the retailer was still failing to generate sufficient cash to operate sustainably, blaming inflation, rising staffing costs and high levels of shoplifting for the continued pressure on the business. Poundland had been running losses of £70million, he said.
He argued that a break-up of the chain, with major employers such as Tesco, Lidl and B&M among those interested, offered the strongest chance of safeguarding jobs.
Mr Newton-Jones said Gordon Brothers was “thoroughly evaluating all options” following “approaches from some of Britain’s most well-regarded employers,” adding: “Additional offers continue to be received and active discussions continue on proposals.”